TriStarr News

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More Uncertainty – Conflicting Data – Behind the Numbers

So the stock market tanks yesterday (Thursday 8/4) and today we hear the US added 117,000 jobs in July.

Behind the headlines, governments lost 37,000 jobs, most of those from State and local governments, and I don’t see that trend stopping as all levels of government are seriously strapped for cash.

The US unemployment rate ticked down to 9.1% – but the government says that’s mostly from people leaving the workforce.  13.9 million Americans remain unemployed, 44% of which have been out of work for six months or longer.

chart-jobs-080311.top.gif

We expect the rough ride to continue as conflicting data breeds uncertainly – and small business doesn’t like uncertainty.  Locally – we continue to see spotty improvement in the job market – although there continues to be no real pattern or strong sustainable demand.

We continue to see demand for skilled and professional candidates.  We also see continued demand for part-time workers, which we generally see in uncertain times – employers remain hesitant to make full time commitments.

We’ll continue to keep you updated, and if you are able to provide me with your views I will (confidentially) incorporate that into my analysis.

Enjoy the weekend and the rest of the summer.

Scott

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